QUESTION 7 OF 20.
Solve the following problem and select the best of the answer choices given.
Ajay deposited Rs. 20,000 in a bank for 54 months at a rate of 10% p. a. What is the simple interest earned by him at the er
of 54 months?
Rs. 9,000
Rs. 18,000
Rs. 90,000
Rs. 1,08,000
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Answers
Rs 9000 hoga.I think it may be right
Question :-
Ajay deposited Rs. 20,000 in a bank for 54 months at a rate of 10% p. a. What is the simple interest earned by him at the end of 54 months?
A) Rs. 9,000
B) Rs. 18,000
C) Rs. 90,000
D) Rs. 1,08,000
Solution :-
Time Period is given 54 months..
So,
→ 12 months = 1 year.
→ 1 month = (1/12) year.
→ 54 months = (1/12) * 54 = (9/2) = 4.5 years.
from given data now, we have ,
→ Sum Deposited = Rs.20000 = Principal.
→ Rate of interest = 10% per annum.
→ Time Period = 4.5 years.
we know that,
→ Simple interest = (Principal * Rate * Time) / 100
Putting all values now, we get,
→ SI = (20000 * 10 * 4.5) / 100
→ SI = 200 * 45
→ SI = Rs.9,000 (Option A) (Ans.)
Hence, the simple interest earned by Ajay is Rs.9,000.
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